Kenya Electricity Generating Co., the biggest electricity producer in the country, snapped two days of losses on a plan to earn carbon credits.
The stock climbed as much as 1.5 percent to 17.2 shillings before trading 0.3 percent higher at 17 shillings as of the close in Nairobi.
KenGen, as the company is known, and Mumias Sugar Co., the biggest maker of the sweeter in Kenya, plan to register some of their projects with a $100 billion per-year fund for buying carbon credits from developing countries, Nairobi-based Sterling Investment Bank Ltd. said today in an e-mailed note to clients citing the sugar miller’s managing director, Evans Kidero.
At Sceptre, we have partnered with key companies within the carbon market to offer our clients the best quality credits available in both the voluntray and compliant markets. Sceptre is both a member of the Carbon Trade Exchange in London which has develped the worlds largest electronic spot trading platform for voluntary markets. The demand for these voluntary offsets, fuelled by corporate commitments to become “carbon neutral,” is growing rapidly. For more information, please visit our website: www.sceptreinternational.com